Ted Baker has bid to buy its ‘Ugly Brown Building’ headquarters in north London, thought to be worth £125m.
The lifestyle brand and retailer is close to securing the freehold on the 254,000 sq ft office block at 3-6 St Pancras Way, of which it occupies 58,000 sq ft, according to Property Week.
The building is currently owned by recovery specialist Begbies Traynor and comprises three blocks. It is not known what Ted Baker founder Ray Kelvin intends to do with the building if the bid is successful.
Ted Baker saw group revenue increase 24.2% in the 18-weeks to June 6, with retail sales up 18.9% and wholesale sales up 41.2%. It currently trades through more than 350 stores and concessions worldwide, with 33 stores, 9 outlets and 141 concessions in the UK.
In June Ted Baker opened a 6,000 sq ft concept store on London’s Commercial Street to showcases all of its licence products, including footwear, watches, jewellery, glasses and sunglasses, bicycles and audio products.
Neither party responded to request for comment.